| Latest Forum Topics / CityDev Last:8.5 -- |
 Post Reply
|
|
CityDev
|
|||||||||||||||
|
JurongW
Elite |
31-Mar-2026 14:33
Yells: "Earnings give weight, Chart give wings" |
||||||||||||||
|
x 0
x 0 Alert Admin |
2025 Annual Report https://links.sgx.com/1.0.0/corporate-announcements/2KR84UUXXP8LX0SX/881134_1-City%20Developments%20Limited%20-%20Annual%20Report%202025_Final.pdf |
||||||||||||||
| Useful To Me Not Useful To Me | |||||||||||||||
|
JurongW
Elite |
16-Mar-2026 14:39
Yells: "Earnings give weight, Chart give wings" |
||||||||||||||
|
x 0
x 0 Alert Admin |
No thanks to JPM for downgrading CityDev!
|
||||||||||||||
| Useful To Me Not Useful To Me | |||||||||||||||
|
|
|||||||||||||||
|
JurongW
Elite |
16-Mar-2026 14:33
Yells: "Earnings give weight, Chart give wings" |
||||||||||||||
|
x 0
x 0 Alert Admin |
The upcoming Fed meeting on March 17&ndash 18 is a major factor behind the drop in City Developments (CDL) and UOL today. Investors are cautious because any signal of delayed rate cuts or prolonged high interest rates from the Fed directly impacts Singapore property developers through higher financing costs and weaker demand. 🏦 Why the Fed Meeting Matters
📊 Current Fed Outlook
📉 Impact on CDL & UOL
⚠ ️ Risks & Takeaways
|
||||||||||||||
| Useful To Me Not Useful To Me | |||||||||||||||
|
parcvista
Member |
16-Mar-2026 11:52
|
||||||||||||||
|
x 0
x 0 Alert Admin |
Deep selling fir the past few days | ||||||||||||||
| Useful To Me Not Useful To Me | |||||||||||||||
|
MrBear12
Supreme |
16-Mar-2026 11:52
Yells: "Cast all our anxieties on Jesus for He cares for us" |
||||||||||||||
|
x 0
x 0 Alert Admin |
the salmon will be back...
when????
when the oil slicks don't choke up the waters upstream.
|
||||||||||||||
| Useful To Me Not Useful To Me | |||||||||||||||
|
|
|||||||||||||||
|
sengkang
Master |
16-Mar-2026 11:36
|
||||||||||||||
|
x 0
x 0 Alert Admin |
Probably peaked at $10.09 this time round. No more salmon left, lol
|
||||||||||||||
| Useful To Me Not Useful To Me | |||||||||||||||
|
MrBear12
Supreme |
16-Mar-2026 10:46
Yells: "Cast all our anxieties on Jesus for He cares for us" |
||||||||||||||
|
x 0
x 0 Alert Admin |
weak market, there is great fear as uncertainty creeps in.. global recession will first hit property markets...
brace for a tough time...
bear is going back to his cave instead of speculating in property...
|
||||||||||||||
| Useful To Me Not Useful To Me | |||||||||||||||
|
parcvista
Member |
16-Mar-2026 09:21
|
||||||||||||||
|
x 0
x 0 Alert Admin |
Steep drop | ||||||||||||||
| Useful To Me Not Useful To Me | |||||||||||||||
|
|
|||||||||||||||
|
Cadence88
Veteran |
16-Mar-2026 09:16
|
||||||||||||||
|
x 0
x 0 Alert Admin |
What happens today? | ||||||||||||||
| Useful To Me Not Useful To Me | |||||||||||||||
|
Joelton
Supreme |
12-Mar-2026 11:30
|
||||||||||||||
|
x 0
x 0 Alert Admin |
CDL eyes chances to unlock value from commercial portfolio, keeps options open for mature assets Its revamped City Square Mall has about 26,000 sq ft more in gross floor area and new leases at higher rental rates [SINGAPORE] City Developments Limited (CDL) sees openings to unlock value in its commercial portfolio, with mature assets in line for possible divestment. A spokesperson for the international real estate operating company told The Business Times that the group sees &ldquo ongoing opportunities&rdquo for asset enhancement initiatives (AEIs), asset repositioning, selective divestments and capital partnerships in its portfolio of office, retail and industrial properties. For example, a S$50 million AEI at its City Square Mall in Kitchener Road added 26,000 sq ft of gross floor area (GFA) to the property, and racked up a positive rental reversion of 9.7 per cent on renewed leases post-revamp. If an AEI can &ldquo meaningfully improve&rdquo rental reversion, tenant quality and overall valuation, and projected returns are above hurdle rates, CDL will pursue reinvestment, the spokesperson said in response to queries from BT. &ldquo In general, more mature strata-titled commercial assets in decentralised locations may present value-unlocking opportunities, depending on market conditions,&rdquo the spokesperson added. &ldquo Our approach is measured rather than programmatic. Capital recycling is not volume-driven, but value-driven.&rdquo In 2025, CDL secured about S$2 billion in contracted divestments globally. These included the sale of Quayside Isle @ Sentosa Cove for S$97.3 million in a transaction completed in February 2026. The sale price was a 47 per cent premium to the property&rsquo s book value of S$66 million. The transaction followed the end-2025 sale of a 50.1 per cent stake in South Beach, a mixed development, to IOI Properties Group for S$834.2 million. The deal, which valued the complex at about S$2.75 billion, partially lifted CDL&rsquo s FY2025 earnings to S$629.7 million. CDL said: &ldquo If the expected returns from further capital expenditure are less compelling relative to alternative uses of capital, or if market conditions are favourable for value crystallisation, monetisation may be the preferred route.&rdquo A refresh for City Square Mall The group on Tuesday (Mar 10) launched City Square Mall, fresh from its AEI, works for which began in September 2023. As at end-2025, the mall had 455,000 sq ft of net lettable area, with 98.7 per cent in committed occupancy. The AEI was conducted in three phases, with the first two completed in the first half of 2025, and the final phase in the first quarter of 2026. It partially lifted the revenue of CDL&rsquo s investment properties segment to S$513 million in FY2025, up from S$500 million in the preceding year. CDL group chief executive Sherman Kwek, speaking at the launch of the mall, said: &ldquo Asset rejuvenation is a key pillar of our enhancement strategy to optimise operational performance and unlock value.&rdquo The revitalised tenant mix comprises independent brands and new-to-market concepts the mall has 21 unique offerings, including modern Australian-Asian fusion restaurant The Fat Sparrow, Japanese-inspired dessert cafe Daydream Desserts, and South Korean DIY photo studio, Photoism. The extra 26,000 sq ft in GFA was gained through the Urban Redevelopment Authority&rsquo s Community and Sports Facilities Scheme. Introduced in 2003, this scheme gives owners of &ldquo highly accessible commercial developments&rdquo to exceed their maximum permissible GFA by including space for community or sports uses. In the case of City Square Mall, 15,210 sq ft on Level 4 and Basement 2 was set aside for Connect @ City Square Mall &ndash a community space housing five social service agencies, Kampong Kapor Community Services, The Salvation Army and Singapore Children&rsquo s Society among them. Mature assets CDL&rsquo s Singapore properties are a core pillar of its commercial portfolio, anchored by assets such as City Square Mall and the 66-storey Republic Plaza in the Central Business District. The CDL spokesperson said core assets are typically long-term holdings that generate resilient recurring income, are located in strong catchments or established business districts, and are properties where value can be driven through active asset management and enhancement. Divestments may be on the cards for assets deemed mature, capital-intensive or where value has already been substantially crystallised, it said. CDL has 11 commercial properties in Singapore. Among these are Republic Plaza, Delfi Orchard and Palais Renaissance along the prime Orchard Road shopping belt, as well as Fortune Centre in Middle Road and Sunshine Plaza in Bencoolen. In FY2024, CDL recorded S$600 million in total divestments globally. In Singapore, the property giant disposed of Cideco, which owns Cideco Industrial Complex, for a sale consideration of S$101.5 million. It also divested 55 strata units in Citilink Warehouse Complex, 44 strata units in Cititech Industrial Building, 17 strata units in Fortune Centre and another 20 units in Sunshine Plaza. CDL still holds a minority interest of around 30 to 40 per cent in the share value of Katong Shopping Centre, which in 2023 made a fourth attempt at an en bloc sale at S$638 million. While the spokesperson said CDL is &ldquo open to value-unlocking options that are commercially viable and aligned with market conditions&rdquo , it noted that any collective sale process &ldquo ultimately depends on broader consensus among owners&rdquo . In February 2026, owners of City Plaza, an 18-storey freehold, mixed-use project in Geylang, secured the 80 per cent mandate for a S$970 million en bloc bid. The complex was built in 1980 by CDL and was the company&rsquo s first mixed-development project. It has 450 units, comprising 384 strata retail units and 66 residential units CDL owns about 16 of those retail units. &ldquo Collective sales require a supportive market environment, feasible redevelopment economics and sufficient owner consensus. We will continue to monitor market dynamics and evaluate our options,&rdquo said the spokesperson. &ldquo Across the commercial portfolio, CDL&rsquo s intent is to keep making improvements that support long-term competitiveness, including energy performance and operating efficiency.&rdquo CDL is also undertaking a strategic review of its global portfolio and capital allocation priorities. It has identified its UK development legacy portfolio, comprising five properties with a total carrying value of about S$800 million as at end-2025, as a potential asset to be monetised. |
||||||||||||||
| Useful To Me Not Useful To Me | |||||||||||||||
|
kepoh88
Veteran |
10-Mar-2026 22:51
|
||||||||||||||
|
x 0
x 0 Alert Admin |
Hong Leong Investment bought so much past two days, more upside. Future is very bright for CDL, the rich from Dubai will flood to Singapore save haven. |
||||||||||||||
| Useful To Me Not Useful To Me | |||||||||||||||
|
Louistan
Senior |
04-Mar-2026 15:55
|
||||||||||||||
|
x 0
x 0 Alert Admin |
Oil prices up means inflation up which means interest rates to go up. So how will property stocks and reits thrive?
|
||||||||||||||
| Useful To Me Not Useful To Me | |||||||||||||||
|
|
|||||||||||||||
|
kepoh88
Veteran |
04-Mar-2026 15:43
|
||||||||||||||
|
x 0
x 0 Alert Admin |
Bargain Hunting, grab ahh !! | ||||||||||||||
| Useful To Me Not Useful To Me | |||||||||||||||
|
JurongW
Elite |
03-Mar-2026 19:28
Yells: "Earnings give weight, Chart give wings" |
||||||||||||||
|
x 0
x 0 Alert Admin |
Just to share latest target price after results annoucement: DBS: $12 UOBKH : $11.50 RHB: $11.20 |
||||||||||||||
| Useful To Me Not Useful To Me | |||||||||||||||
|
Joelton
Supreme |
28-Feb-2026 12:59
|
||||||||||||||
|
x 0
x 0 Alert Admin |
CDL H2 net profit up over four times at S$538.5 million on improved showings across all segments
This translates to an EPS of S$0.598, against S$0.121 in FY2024
[SINGAPORE] City Developments Ltd&rsquo s (CDL) : C09 +4.91% second-half earnings rose more than four times to S$538.5 million, from S$113.5 million in the previous corresponding period.
This more than trebled the group&rsquo s full-year earnings to S$629.7 million in the 2025 financial year, from S$201.3 million in FY2024.
The improvements were primarily driven by robust residential sales in Singapore and strong capital recycling gains, notably, from the sale of a 50.1 per cent stake in the South Beach mixed-use development in H2 to Malaysian partner IOI Properties Group, said CDL on Friday (Feb 27). The S$834 million transaction yielded a S$465 million gain.
Sherman Kwek, CDL&rsquo s group chief executive officer, said that strong residential sales in Singapore and accelerated capital recycling drove a &ldquo significant uplift&rdquo to the group&rsquo s earnings, despite the company facing a &ldquo challenging environment with ongoing economic uncertainties&rdquo in 2025.
&ldquo To maximise shareholder returns, we are actively reviewing our growth strategy, portfolio structures and capital allocation priorities,&rdquo Kwek said. &ldquo We have taken decisive steps to unlock value from mature and non-core assets, while selectively redeploying capital to drive growth.&rdquo
In early 2025, Kwek was embroiled in a public feud with his father and CDL executive chairman Kwek Leng Beng, but the matter was settled subsequently.
For H2, CDL posted an earnings per share (EPS) of S$0.598, versus S$0.121 in the year-ago period. EPS for the full year rose to S$0.694, from S$0.213 in the previous financial year.
Revenue for H2 stood at S$1.9 billion, up 11.1 per cent on the year from S$1.7 billion. Full-year revenue grew 9.7 per cent to S$3.6 billion from S$3.3 billion.
Better results across all segments
CDL said that all its business segments reported improvements for H2 and FY2025, with the property development segment being the biggest contributor to revenue growth.
For FY2025, that segment&rsquo s revenue rose 24.1 per cent on the year to S$1.2 billion, supported by higher contributions from Singapore projects such as The Myst, Norwood Grand and Union Square Residences. The sales of the Ransome&rsquo s Wharf site in London and the office component of Suzhou Hong Leong City Center in China also boosted revenue.
Notably, the hotel operations segment saw a 1.7 per cent increase in revenue and improvements in revenue per available room, said CDL. This was supported by new additions including The Mayfair Hotel Christchurch, acquired in January 2025, and the Hilton Paris Opera, acquired in May 2024.
The group noted that the increase in gross profits for H2 and FY2025 was marginal, despite its revenue growth.
Its overall gross profit margin fell to 41 per cent for H2 and FY2025, from 45 per cent for both periods in 2024, as it was impacted by an S$80.5 million allowance for foreseeable losses that was made in relation to China development properties.
As at Dec 31, CDL maintained strong cash reserves of S$2.1 billion.
The board proposed a final dividend of S$0.25 per share, payable on May 19, after the record date on May 4. Together with the special interim dividend of S$0.03 per share paid in September 2025, the total ordinary dividend for FY2025 amounts to S$0.28 per share, representing a 40 per cent dividend payout ratio.
|
||||||||||||||
| Useful To Me Not Useful To Me | |||||||||||||||
|
Joelton
Supreme |
28-Feb-2026 12:58
|
||||||||||||||
|
x 0
x 0 Alert Admin |
CDL undertakes review to relook strategy, optimise portfolio and capital recycling
It plans to divest UK development platform by end-2026, says group CEO Sherman Kwek
[SINGAPORE] City Developments Ltd (CDL) is taking a hard look at its global portfolio and capital allocation priorities under a sweeping strategic review, with plans to step up capital recycling and monetise assets.
&ldquo To maximise shareholder returns, we are actively reviewing our growth strategy, portfolio structures and capital allocation priorities,&rdquo said group chief executive Sherman Kwek, at CDL&rsquo s earnings briefing on Friday (Feb 27). &ldquo We have taken decisive steps to unlock value from mature and non-core assets while selectively redeploying capital to drive growth.&rdquo
The property giant engaged a global advisory firm around September last year to conduct a review of its strategy and operations. CDL expects to announce the outcome of the review by June this year.
Key areas include rightsizing its portfolio and reviewing capital allocation priorities across geographies and asset classes, said Kwek, noting that formal targets will be provided once the review is completed.
Among assets under scrutiny is CDL&rsquo s UK development legacy portfolio, which comprises five properties with a total carrying value of about S$800 million as at end-December 2025, after two assets were sold over the last two years.
UK development platform
Acknowledging that the UK assets have &ldquo underperformed&rdquo , Kwek said that the group is looking to &ldquo recycle this capital as quickly as possible&rdquo and hopes to do so by the end of the year. CDL entered into the UK before Kwek assumed the CEO role, and had to engage an external manager then as it had no presence there.
Currently, CDL&rsquo s five properties in the platform are a carpark at 28 Pavilion Road, Knightsbridge, acquired in 2013 Stag Brewery at Mortlake, bought in 2015 office building Development House acquired in 2016 residential project Teddington Riverside bought in 2015 and the six-unit Chesham Street in Belgravia.
As at end-December 2025, 148 of the 224 units in Teddington Riverside and three of the six units at Chesham Street remain unsold. CDL is exploring options including bulk sales for Teddington Riverside, noted Kwek.
For its China commercial properties, Kwek said that the market remains challenging, and added that the group will take a pragmatic approach, assessing each asset individually and even accepting &ldquo some haircuts on it&rdquo , where necessary, to unlock capital. &ldquo We have to continue to drive forward with our capital recycling &ndash it is not a one-off exercise. Capital recycling is very much a part of our business as property developer and asset manager.&rdquo
CDL H2 net profit up over four times at S$538.5 million on improved showings across all segments
In 2025, CDL secured around S$2 billion in contracted divestments globally, outpacing around S$1.7 billion of acquisitions, which included three Singapore government land sales sites for about S$1.2 billion, and the Holiday Inn London &ndash Kensington High Street hotel for £ 280 million (about S$480.2 million).
The contracted divestments included the sale of Quayside Isle @ Sentosa Cove for S$97.3 million, which was completed in February 2026.
CDL on Friday posted a net profit of S$538.5 million for the second-half ended Dec 31, 2025, rising more than four times from S$113.5 million in the year-ago period. This more than trebled the group&rsquo s full-year earnings to S$629.7 million, from S$201.3 million in FY2024.
Robust growth
Bottom line growth was primarily driven by robust Singapore home sales and strong capital recycling gains, notably from the sale of a 50.1 per cent stake in the South Beach mixed-use development to Malaysian partner IOI Properties Group for S$834 million. The deal generated a gain of S$473.1 million.
As at Feb 25, 2026, CDL has sold 95 per cent of the 777-unit The Orie condo project in Toa Payoh. It also sold 87 per cent of the 706-unit Zyon Grand project, as well as 66 per cent of its 246-unit Newport Residences development.
Including executive condos, the group sold 1,657 units for FY2025, raking in total sales value of S$4.35 billion &ndash marking the highest sales value in CDL&rsquo s history. In FY2024, the group sold 1,489 units with total sales value of S$2.97 billion.
CDL said that it is confident in the Singapore residential market for 2026, supported by stable demand in public and private housing. With moderating interest rates, buying interest is likely to remain resilient.
The group is preparing to launch its Lakeside Drive project in the third quarter of 2026 &ndash featuring five 17-storey residential towers with 570 units and commercial space on the first storey. CDL clinched the site in June 2025 at S$608 million or S$1,132.08 per square foot per plot ratio (psf ppr).
It also plans to launch projects on the Woodlands Drive 17 and Senja Close EC sites in the first quarter of 2027. In August 2025, the residential heavyweight bid S$360.9 million or S$782 psf ppr for the Woodlands site, and S$252.9 million or S$771 psf ppr for the other plot.
On the commercial front, Kwek said that the group has considered amalgamating Delfi with neighbouring Claymore Connect and Orchard Hotel to create a sizeable mixed-use development.
While CDL has taken some steps under the Strategic Development Incentive scheme, Kwek noted the project will not start in the near term to avoid putting financial strain on the group.
&ldquo Looking ahead, the group enters its next phase of growth with renewed vigour. As we embark on our value-creation journey, we are well positioned to deliver sustainable growth and maximise returns for all shareholders,&rdquo Kwek added.
|
||||||||||||||
| Useful To Me Not Useful To Me | |||||||||||||||
|
MrBear12
Supreme |
27-Feb-2026 07:36
Yells: "Cast all our anxieties on Jesus for He cares for us" |
||||||||||||||
|
x 0
x 0 Alert Admin |
Back above 1000 Amazing shareholder value Upgrade bear meals to Norwegian Salmon | ||||||||||||||
| Useful To Me Not Useful To Me | |||||||||||||||
|
spursfan
Supreme |
27-Feb-2026 07:28
|
||||||||||||||
|
x 0
x 0 Alert Admin |
https://links.sgx.com/1.0.0/corporate-announcements/O2XMT2C17WNOC066/876480_2_CDL%20News%20Release%20-%20FY%202025%20Financial%20Results.pdf |
||||||||||||||
| Useful To Me Not Useful To Me | |||||||||||||||
|
sengkang
Master |
24-Feb-2026 09:50
|
||||||||||||||
|
x 0
x 0 Alert Admin |
Today decisively crossed the resist line of 10 lolla 
|
||||||||||||||
| Useful To Me Not Useful To Me | |||||||||||||||
|
Joelton
Supreme |
06-Feb-2026 09:49
|
||||||||||||||
|
x 0
x 0 Alert Admin |
CDL, Woh Hup tie-up tops Tanjong Rhu site tender with S$709.25 million bid at S$1,455 psf ppr The 99-year leasehold private housing site fetches five bids [SINGAPORE] The first private-housing site in Tanjong Rhu put up for sale at a state tender in nearly 30 years has fetched a higher-than-expected top bid of S$1,455 per square foot per plot ratio (psf ppr). That land rate, set by City Developments Ltd (CDL) and Woh Hup&rsquo s S$709.25 million bid on Thursday (Feb 5), is the highest for a 99-year government land sale (GLS) pure private residential site in the Rest of Central Region, according to Tricia Song, head of research for Singapore and Southeast Asia at CBRE. The top bid surpassed the S$1,360 psf ppr fetched for the Lorong 1 Toa Payoh site at a state tender that closed in November 2023. That site was bought by a CDL, Frasers Property and Sekisui House consortium and is being developed into The Orie. Analysts polled by The Business Times had predicted that the top bid for the Tanjong Rhu site would be in the range of S$1,200 to S$1,400 psf ppr. The five bids received are within the two to nine the analysts had expected. The top bid by the CDL-Woh Hup tie-up was 2.5 per cent above the second highest bid, of about S$1,419 psf ppr from a partnership between Sunway MCL and Sinarmas Land unit AFP Land. CDL&rsquo s group chief executive officer, Sherman Kwek, was elated with the narrow margin. He highlighted the site&rsquo s &ldquo strategic position within the Kallang Alive precinct, combined with excellent waterfront views and good connectivity&rdquo . If awarded the site, the joint venture will explore a residential development comprising about 520 units across three 26-storey residential blocks, and with an integrated childcare centre. &ldquo Designed to maximise view corridors, the development is envisioned with a north-south orientation to capture views of The Kallang, Marina Bay and the sea,&rdquo Kwek added. The site is near several established schools, including Kong Hwa School, Dunman High School and Chung Cheng High School (Main), CDL said in a media release. The CDL-Woh Hup consortium is structured on a 90:10 equity split. It is the first joint venture between the duo, although Woh Hup has been the main contractor for various CDL projects. Also bidding at Thursday&rsquo s tender, conducted by the Urban Redevelopment Authority, were Sim Lian Land and Sim Lian Development, which offered S$1,416 psf ppr. A tie-up involving GuocoLand, Intrepid Investments and TID Residential bid S$1,380 psf ppr. Kingsford placed the lowest bid, at S$1,235 psf ppr. Price consensus Nicholas Mak, chief research officer at Mogul.sg, said the 17.8 per cent difference between the highest and lowest bids is a &ldquo fairly narrow range, reflecting the consensus in the land valuation and the price of the future residential development on this site&rdquo . The plot &ndash located next to the Singapore Swimming Club &ndash is between Tanjong Rhu and Katong Park MRT stations on the Thomson-East Coast Line. Both stations are about 600 to 700 metres from the site. It is in an area with a mix of private and public housing developments. Wong Siew Ying, head of research and content at PropNex, said: &ldquo The heightened interest for this site is not surprising (as it is) a rare opportunity for developers to offer fresh private housing in the neighbourhood.&rdquo The last GLS site sold in Tanjong Rhu was in November 1997 that plot was developed into the Water Place project. &ldquo There has been a dearth of new mid-sized to large condo projects launched in that area, potentially creating pent-up demand for private housing among buyers, including HDB upgraders,&rdquo said Wong of PropNex. Near upcoming HDB flats Giving her take, Newmark head of research for Singapore, Wong Shanting, said: &ldquo Tanjong Rhu has shed its image of inconvenience in recent years with ongoing rejuvenation plans, which helps explain why developers were willing to pay a premium for this site.&rdquo She highlighted that just across the road from the site are the Tanjong Rhu Riverfront build-to-order HDB flat projects, which should see more amenities offering convenience for future residents. &ldquo Additionally, the Kallang Alive precinct (being) in close proximity will offer more sports facilities and water activities,&rdquo she added. In a similar vein, CBRE&rsquo s Song said: &ldquo While there will be new public housing clusters around this site, potentially eroding the private housing nature of Tanjong Rhu, buyers may be enticed by more amenities and future upgrader demand that usually comes with HDB estates.&rdquo Mark Yip, CEO of Huttons Asia, estimates the selling price of the future project on the Tanjong Rhu site may start from S$2,900 psf. Knight Frank Singapore research head, Leonard Tay, said the average price could be around S$3,000 to S$3100 psf. |
||||||||||||||
| Useful To Me Not Useful To Me | |||||||||||||||
